The $20,000 instant asset write-off has been extended and increased for small businesses with an aggregated turnover of less than $10m.

Instant Asset Write-Off Extended and Increased

A small business is able to immediately write-off an asset costing under $20,000 if installed and ready for use between 12 May 2015 and 28 January 2019. From 29 January 2019 to 30 June 2020, it is PROPOSED the instant asset write off will increase to $25,000.